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Thursday, May 19, 2022

Amylyx Pharmaceuticals, Inc. (AMLX) stock is down in the Current market; here is why?

Amylyx Pharmaceuticals, Inc. (AMLX) stock declined in the current market after announcing its fiscal 2021 results. AMLX’s share price is $13.61, losing more than 8.84% compared to yesterday’s closing price. AMLX stock closed at $14.93 at the end of the last trading session. AMLX’s stock volume was around 1.17 million shares in the previous trading session. The current market cap of the company is about $738.02 million.

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AMLX: Fiscal 2021 Key Financials

  • Amylyx Pharmaceuticals’ revenue in the fiscal year 2021 was 285 thousand dollars, compared to 650 thousand dollars in 2020.
  • Amylyx Pharmaceuticals’ research and development costs were $44.0 million in fiscal 2021 compared to $24.6 million in 2020.
  • General and administrative costs were $38.9 million in 2021, up from $15.1 million in 2020.
  • Amylyx Pharmaceuticals reported a net loss of $87.9 million for 2021, compared to a net loss of $42.3 million in the previous fiscal year.
  • In 2021, the loss per share was $13.35 per share. The loss per share for the previous year was $6.96.
  • The corporation had $$96.1 in cash and cash equivalents at the end of the fiscal year 2021.

AMLX: Major Achievements

  • In the United States, Europe, and Canada, Amylyx Pharmaceuticals filed regulatory applications for ALS treatment with AMX0035 to regulatory authorities, which the FDA accepted for evaluation and assigned a PDUFA date of June 29, 2022.
  • To make AMX0035 more accessible to patients with ALS who match the program’s qualifying requirements, Amylyx Pharmaceuticals has launched an Expanded Access Program (EAP) in the United States.
  • The IPO was a great success, raising $196.9 million in net proceeds for the firm.
  • In a presentation at the Clinical Trials on Alzheimer’s disease Conference, Amylyx Pharmaceuticals shared results from the PEGASUS Phase 2 clinical study of AMX0035 to treat Alzheimer’s disease.
  • AMX0035, a new treatment for amyotrophic lateral sclerosis (ALS), was recently given to patients in the PHOENIX global Phase 3 clinical study.

AMLX: Management Commentary

There were several significant achievements for Amylyx in the year 2021, according to Justin Klee and Josh Cohen, the Co-CEOs and Co-Founders of the company. Our goal is to find the first medication candidate to enhance function and prolong life in ALS patients. If authorized, we want to make AMX0035 accessible to as many patients with ALS as feasible. To that end, we look forward to continuing to work with regulators and growing our pipeline.

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